Saudi Tadawul Index Hits 3-Month Low on Broad Sector Weakness

Saudi Arabia's benchmark stock index, the Tadawul All Share (TASI), declined on Tuesday to reach a new three-month low. The index closed down 0.40% amid broad-based selling pressure that saw decliners significantly outpace advancers.

Market Performance

The slide in the TASI was primarily driven by losses in the Financial Services, Building & Construction, and Agriculture & Food sectors, according to closing market data. Investor sentiment was weak across the board, with 206 stocks falling compared to 113 that advanced. An additional 18 stocks ended the session unchanged.

This negative market breadth underscores the widespread nature of the selling pressure that pushed the main index to its lowest level since April.

Notable Stock Movers

Despite the overall market downturn, a few companies posted significant gains. Top performers included:

• Aldrees Petroleum & Transport Svcs (4200): Rose 6.34% to close at 114.10.
• Gulf Insurance Group (8250): Climbed 5.92% to 34.00, reaching a new 52-week high.

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On the other end of the spectrum, several firms saw steep declines:

• Abdullah Saad Mohammed Abo Moati Stationeries Co (4191): Fell 6.69% to 41.02.
• Takween Advanced Industries (1201): Dropped 4.88% to 4.29, hitting a new all-time low.

Broader Market Context

The decline in Saudi equities occurred despite a positive session for oil prices, a key driver for the kingdom's economy. Brent crude futures for September delivery rose 1.87% to $90.89 a barrel, while West Texas Intermediate (WTI) crude gained 1.99% to $84.12 a barrel.

In currency markets, the Saudi riyal remained stable, with the USD/SAR pair unchanged at 3.75. The US Dollar Index Futures, a measure of the dollar against a basket of other major currencies, edged up 0.07%.